If you’ve recently driven, walked, or taken public transportation along Market Street in the Castro/Duboce Triangle neighborhoods, you’ve seen the cranes and construction sites that belong to a number of new condo and rental buildings. Our economy has bounced back, and with that comes financing for developers both big and small.
Depending on how the developers of new condo projects structure their investments, some buildings may be sold as condos, while others will be leased. Yes, we’re in a seller’s market, but if a developer raised funds for a long-term rental investment, attempting to switch over to a sales strategy doesn’t mesh with what was originally presented to investors. And everyone has to answer to Wall Street at one point or another. Continue Reading